From the following items in the income statement columns of the worksheet of Monaghan Company at December 31, prepare the closing entries without explanation, assuming that a $500 withdrawal was made during the period.

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The Answer of From the following items in the income statement columns of the worksheet of Monaghan Company at December 31, prepare the closing entries without explanation, assuming that a $500 withdrawal was made during the period.

From the Following Items in the Income Statement Columns of the Worksheet